Andrew Chreng Bio
The entrepreneur was born in China in the year 1948. His father was working as a chef during his early life. Andrew Chreng is the founder, co-chairman, and Chief Executive Officer (CEO) of Panda Restaurant Group, Inc that is based in Rosemead, California. In his early life, he immigrated to the United States. He took his studies at an American university, and in the year 1970, he obtained a B.S degree in Mathematics. His business career started in 1972 after he moved to Los Angeles. Like any other entrepreneur, Andrew had developed a strong desire for achievement. He helped his cousin manage a restaurant. Entrepreneurs are creative people that develop great desires of inventing new ideas (Jang, Liu and Namkung 663).
Andrew founded a restaurant in Pasadena to be selling Asian meals. It was his first move of venturing into the business field. In mid-1973, he worked together with his father to take over a restaurant that they named Panda Inn. They made a decision of offering Chinese food. They used the funds from loans that were available for small business administration and family savings. In the year, 1983 he opened the first Panda Express with the aim of offering fast food in Glendale, California. To increase its profitability, Andrew opened outlets and in the year 1993 the company had expanded to hundred restaurants. The chain has become the largest fast-food restaurant in the United States that offers Chinese food (Pearson 21).
Business Model and Their Website
Panda is one of the largest private owned restaurants chains in the United States. The company focuses on people and food. It values the satisfaction of its customers more than the profits. The restaurant offers fresh food possible. It discards dishes that have stayed at the steaming table for more than twenty minutes to ensure that it provides fresh and green vegetables to its customers. The business targets the majority young people and mainly Asian customers. The company has been closely held by the family. As a result, it has been easier to make decisions and to maintain the vision and mission of the enterprise. The company website has been used as a marketing tool for its products and the quality services offered. It clearly outlines the company philanthropic arm, the Panda Cares, its mission, leaderships and values (Pearson 22).
Recommended Areas to Improve from a business standpoint
Continuous improvement plays a significant role in the growth of the firm. It enables the company to improve the quality of products offered, speed to market, flexibility, costs reduction, customer value and satisfaction (Westhead 252). Panda Restaurant Group, Inc should improve on it fast food meals. There has been an increased customers’ awareness on the health issues as a result of consuming high-fat contents diets. As a result, it should ensure that it is offering low-fat contents meal and organic food. The business should enhance the skills of its employees through involving them during problem-solving and decision-making processes.
Reason for Choosing Andrew Chreng Lessons Learnt
I chose him to learn from his ability to grow as an entrepreneur since he is an immigrant in United State. Choosing him has helped in learning how he developed a passion for running a restaurant. The entrepreneur has also helped in understanding that minimal funds can be used to start a business. I have learned that perseverance, drive, and passion are critical to ensuring that the businesses overcomes competition and satisfies the needs of the targeted customers. I have also learned that clients and employees play a significant role for the company to succeed.
Works Cited
Jang, SooCheong, Yinghua Liu, and Young Namkung. “Effects of Authentic Atmospherics in Ethnic Restaurants: Investigating Chinese Restaurants.” International Journal of Contemporary Hospitality Management 23.5 (2011): 662-680.
Pearson David. “How I Made It: Panda Express’ Billionaire CEO Dishes Up a Stir-Fry Empire.” Los Angeles Times 11 January 2015: 21-22.
Westhead, Paul. “Entrepreneurship: Concepts, Theory and Perspectives.” International Small Business Journal 26.2 (2008): 251-255.